UAE two main bourses closing in green for sixth straight session

ABU DHABI, The UAE stock markets today continued their bullish trend though the buying spree over the past few days was selective, only targeting the property sector and some of Takaful insurance companies, which secured decent gains.

The Dubai Financial Market General Index increased 0.38 percent surpassing the 3503 points mark, with the Abu Dhabi Securities Exchange General Index rising 0.17 percent to 4593 points as compared to yesterday’s session.

Positive sentiments continued to prevail with stocks forecast to continue their upward movement in the run-up to the 2017 Q4 financial disclosure.

A number of DFM shares maintained their uptrend, with Emaar Development increasing to AED5.77, followed by Emaar Malls which closed at AED2.20, while Emaar Properties experienced limited profit booking closing at AED7.31. Damac chipped in the gains, spiking to AED3.42 as well as Arabtec which closed on a high note of AED2.67. In the banking sector, Dubai Islamic Bank continued its rising streak to AED6.49.

At the capital’s course, ADCB jumped to AED7.33, with Etisalat forging ahead to the 18 dirham mark, for the first time in several months.

In terms of liquidity, a total of 5384 transactions worth AED545 million were conducted over 361 million shares.

Both main bourses closed in the green for the 6th straight session, with 30 firms out of 65 trading today closing high, 21 down and 14 at their last traded prices.

Source: Emirates News Agency